Bankruptcy News Headlines

Saudi tycoon's creditor banks weigh multi-billion dollar debt deal

Bank creditors of detained Saudi Arabian tycoon, Maan al-Sanea, have asked his advisers for more details on a proposed settlement covering 16 billion riyals ($4.3 billion) in claims before they agree to move forward with the process, sources close to the matter said.

New Look creditors back UK restructuring plan

Creditors and landlords of New Look overwhelmingly approved the struggling British retailer's restructuring plan at a meeting on Wednesday, enabling it to stave off a potential fall into administration, the company said.